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budget. after the weekend, talks collapsed. and the annual world energy outlook report in an hour and plus analysis of where oil prices can be headed. and best buy gets set to join the tablet wars with it insignia flex. what can it offer to customers that the ipad, kindle 5 and surface can't. the first japanese government may be forcesed to lower its outlook for the economy, this after reporting an 8.9% fall in third quarter gdp. at this rate, already in recession. the government's attempts at a moderate recovery has been made more difficult by tensions with china. now pressure is even mounting from the boj, but analysts say the central bank likely to hold off until after the federal reserve is due to meet. joining us for more is global chief officer of global equities. and head of japanese research at jpmorgan securities. i suppose the question is whether this contraction here in the third quarter will be followed by another one in the fourth. >> it looks quite likely. you've got bad news on exports continuing and you've got on on top of that now a contraction in public spending
that inflation forecast of unexpectedly large rise in home energy prices. and annoy saying inflation falling the second half of 2013 and they'll only hit the 2% target in mid 2014. so basically they're going to hit their target almost a year later than they forecast, just three months ago. so in three months, they have pushed out their target of inflation by a year. so what we're seeing now is the sterling gains against the dollar. guilt futures are extending their losses on this report because clearly it suggests they'll be reluctant to do any more qe, let alone the fact they're also questioning its efficacy as well. economic growth to fall back sharply in the fourth quarter. rpi over 3%. the squeeze on real incomes in the uk continues because of this higher inflation profile. they say use of profits from bond purchase to pay government debt the same as 35 billion of qe. that's just to remind you that what's going to happen now is the government is going to take back the interest it's already paid to the bank of england and take it back, which is what they do in japan and the u.s. anyway. >
cliff fears and lingering concerns about europe. eyes on the com uhe amunist par congress. energy majors tumbled. the hang seng suffered its worse day in 3 1/2 months. we saw a broad based selloff in commodity plays, industrials and financials. lenovo shares lost 2.7% even though q2 profit beat forecasts. over in japan, the nikkei ended at a three week low with down beat machinery data adding to pessimism. steel makers and ship builders weighed on the kospi and australian shares snapped a four day winning streak despite a stable jobless rate. miners led the losses. the aussie market finished down 0.3%. and lastly sensex lower by about 0.4% at the mox. back to you. >>> a day after the u.s. elections, china has begun its leadership transition. outgoing president hu jintao warned of corruption urging political and economic reform, but he also stressed that china will not abandon one party rule and will stick to the socialist path. eunice yun is following the story for us and joins us with more. what's the reaction there as this key leadership transition gets under way? >> well, right now th
, but brokerages lost ground. the hang seng finished in the red dragged lower by energy stocks in mainland banks pl julie tumbled over 5% after a warning. several brokerages raised their ratings on the stock. the nikkei fell for the fifth straight day in a row on the back of a worse than consumer sentiment down more than 3% for the week. the persistent strength hurt automakers and electronics. in south korea, autos and construction stocks weighed on the kospi and the bok kept its key rate on hold as expected. the aussie market also finished lower after the rba cut its growth forecast. most miners finished in the red. in india, the sensex still in action now lower by about 1%. but hopes of a stake sale. orient express hotels rejected the bid. investors cheered the news after they worry about the impact of the acquisition on its balance sheet. ross, back to you. >> i'll pick it up now. any euphoria the obama administration feels could be erased by the thought of getting obama'sed edagenda through and divided congress. you can get more at cnbc.com. china is awaiting their new government and apparently
petrol price and other energy price increases. but to a certain extent as well, the food price increases which we're beginning to see, and likely to see more of reflect changinged food presences, increasing prices for wheat even though spikes in corn and wheat prices that we've seen have been largely due to weather factors. but demands are the pressure, as well. >> for anyone trying to figure out what's going organization how sustainable are the inflation rates and are they not going to fall precipitously as the fee hikes come out. >> there will be, but if you look at the university tuition fees, that will be there for three years. it's not just something that will disappear in 12 months time. and that's an important point because when the bank of england presents it inflation forecast tomorrow, it will have to count those increases in fee as a medium term inflation pressure. they'll be there throughout the entirety of hair projections this time around. and then that has some effect on the policy making decisions. >> is that is t. for the 375, they're done? >> we suspect it probably is.
Search Results 0 to 4 of about 5

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